Sustained Innovation and Creativity - Toyota Industries Corporation

Consolidated Eleven-Year SummaryToyota Industries Corporation and Consolidated SubsidiariesYears ended March 31The fi gures in this table are unaudited.For The YearNet sales ¥1,505,956 ¥1,241,538 ¥1,164,379 ¥1,069,219Operating income 64,040 53,120 52,631 52,478Ordinary income 80,635 70,913 58,971 51,375Net income 47,077 43,358 33,623 21,934Overseas sales ¥ 620,946 ¥ 539,003 ¥ 497,357 ¥ 451,594Depreciation and amortization 87,288 70,213 65,352 59,154Capital expenditures 158,836 136,506 89,509 87,559Research and development expenses 31,166 30,051 29,562 29,705Per share of common stock (yen, U.S. dollars):Net income — basic ¥ 146.16 ¥ 135.09 ¥ 108.04 ¥ 70.19Net income — diluted 146.02 135.03 101.97 62.90Shareholders’ equity 5,044.45 3,504.80 3,199.69 2,522.52Cash dividends 38.00 32.00 24.00 22.00At Year-EndTotal assets ¥3,245,341 ¥2,326,824 ¥2,011,995 ¥1,650,391Shareholders’ equity 1,611,227 1,115,747 1,016,764 738,868Common stock 80,463 80,463 80,463 68,047Number of shares outstanding (excluding treasury stock)(thousands)2005 2004 2003319,320 318,237 317,666 292,777Cash FlowsNet cash provided by operating activities ¥ 131,785 ¥ 100,095 ¥ 92,406 ¥ 103,183Net cash used in investing activities (205,014) (128,231) (92,668) (95,121)Net cash provided by (used in) fi nancing activities 85,173 50,021 (56,015) 57,776Cash and cash equivalents at end of year 112,597 100,536 77,212 136,929IndicesReturn on equity (ROE) (%) 3.5 4.1 3.8 2.7Return on assets (ROA) (%) 1.7 2.0 1.8 1.3Return on sales (ROS) (%) 3.1 3.5 2.9 2.1Debt/equity ratio (%) 29.4 34.4 31.6 55.6Interest coverage (times) 7.8 7.7 7.4 6.7EBITDA (millions of yen, thousands of U.S. dollars) ¥ 150,674 ¥ 128,381 ¥ 113,676 ¥ 95,472Number of employees at year-end 32,977 30,990 27,431 25,030Notes: 1. U.S. dollar amounts have been translated from yen, for convenience only, at the rate of ¥117.47 = US$1, the exchange rate on March 31, 2006.2. Main changes in accounting standards and methods during the above periods are as follows. These changes have not been applied to the fi nancial statements presentedprior to each year retroactively.(1) Effective beginning the year ended March 31, 2005, the new accounting standards for impairment of fi xed assets have been applied. Details are described in Notes toConsolidated Financial Statements.(2) Effective beginning the year ended March 31, 2003, the new accounting standards for net income per share have been applied.(3) Effective beginning the year ended March 31, 2001, the new accounting standards for retirement benefi ts, fi nancial instrument and foreign currency transactions havebeen applied.(4) Effective beginning the year ended March 31, 2000, Toyota Industries Corporation (the “Company”) has used the annual average exchange rate instead of the year-endrate in order to present the operating results more precisely as signifi cance of the overseas consolidated subsidiaries had been increasing and their revenue and expenseswere incurred throughout the fi scal years. The Company also has adopted tax effect accounting due to the amendment of the accounting standards for income taxes.Deferred tax assets have been newly recognized in current assets, and investments and other assets. Deferred tax liabilities have been recognized in current andlong-term liabilities.2006Millions of yen62 Toyota Industries Corporation Annual Report 2006